Albuquerque's rental and resale market, historically speaking, is very stable and the market moves at a healthy pace.

Tree clearing, grubbing, moving dirt for cut/fill operations, storm water, power, gas, water, fire access etc. not a small task but doable.  

that makes sense, I want to get familiar with the tax strategy and hopefully venture into the STR world once I move in the next year or so, let's stay in touch!

Scott, A couple of things here: 1) If this is true, and you will be getting $10M, then you should be cautious - alerting people to an amount of money this large can be dangerous, and you will get advice looking to separate that money from you from very hungry people, who will come off as very polished, but who can really do damage to your wealth.2) If you are coming into $10M all at once, then depending on the source, you will pay taxes on this.

This way you can separate the learning process and don't have to learn everything at once.

Live in one of the units for 1 year and then move out.

You can then sell and take a proration of the gain (for the period of time you lived in it) tax free.Do a 1031 - Rent it for two years - move in and live in it for 3 years - You would get 60% of the gain tax free. 

In our experience, the S8 guru/scammers promote buying Class D properties and then renting them out to S8 voucher holders.It takes a lot of hustle and probably legally bribing the tenant with an appliance or two, to get them to move into a bad area.No telling how long they will stay either. 

Good afternoon all,I have a tenant who wants to move in her boyfriend who is currently on parole.

I'm definitely new and I don't have all the logistics planned out this is just the vision now I'm trying to backwards engineer and figure out my steps I thought my first step would be to househack a 4-Plex on an FHA loan and then graduate to six or 12 units and then move on to bigger properties most likely outside of Chicago to your point. right now I am very confused this is the second time someone has said that four unit is not like a six or 12 but I'm not really sure in what ways is it the underwriting is it the management is it literally every aspect of it.